The Washington Post Company (NYSE: WPO) has acquired the education site CourseAdvisor.com, which is an online lead generator serving the education industry. However, the financial details and terms of the acquisition were not disclosed.
The Wakefield, MA.-based company matches up students with suitable degree or certificate-granting programs across 800 institutions. CourseAdvisor founder and CEO Greg Titus was formerly the head of online education firm Acadient. The Washington Post Company is also the owner of education services firm Kaplan, which is an educational prep service and hence the synergy to justify the acquisition. Kaplan is already among those institutions listed as a potential for match using CourseAdvisor’s search wizard.
The company is known to have raised $12 million investment, which was the company’s first institutional round of financing. The investment was led by ABS Capital Partners, a leading private equity firm focused on investing in established and profitable growth companies, and The Washington Post Company. The money was then said to be used to fund the Company’s continued rapid growth by increasing investment in its sales force and strengthening its balance sheet. As a result of the financing, Deric Emry, a General Partner at ABS Capital, joined CourseAdvisor’s Board of Directors. Ralph Terkowitz, also a General Partner at ABS Capital and Caroline Little, chief executive officer and publisher of Washingtonpost.Newsweek Interactive (WPNI), will serve as observers on the Company’s Board of Directors.
The company was founded in 2004 and is basically an online research directory for postsecondary education, career training, and professional development. We offer more than 7,000 programs through nearly 500 accredited colleges, career schools, training centers, and universities.
With over 1.5 million unique visitors per month, CourseAdvisor has become a leading online education directory (OED). The Company has significant technological advantages which enable it to manage complex search campaigns to source high quality leads. Since all site visits are generated from paid and organic search, each visitor is actively seeking information about colleges, universities and career and professional training. In addition, the Company’s advanced technology platform with superior filtering capabilities offers student profiling, geo-targeting and multi-stage data verification to maximize lead quality for CourseAdvisor’s customers.
Search CourseAdvisor for:
- Online and Campus Degrees
- Professional Diploma and Certificate Programs
- Nursing and Allied Health Schools
- IT Training
- Business Degrees
- Online Master’s in Education
- Criminal Justice and Homeland Security
The CourseAdvisor Approach
CourseAdvisor’s objective is to be a useful, effective resource for furthering your education and enriching your life. We work hard to make researching higher education easy. Our guided search Wizard finds only those programs that meet your interests, requirements, and qualifications. The basic information you provide helps us connect you with the schools that can best serve you.
Our unique advantage is our team of education, technology, social sciences, and Internet experts. We continually research career fields and employment trends and actively seek out schools that offer exciting new programs in the fastest-growing fields.
We also develop our own custom search technologies to help you find the best opportunities in your chosen career. More than 2 million students visit CourseAdvisor every month! Think of CourseAdvisor as a search engine that runs in both directions… we make it easier for students and schools to find each other.
CourseAdvisor is located in Wakefield, Massachusetts and is now an independent subsidiary of The Washington Post Company since October 11, 2007.
CourseAdvisor.com claims it attracts over 1.5 million unique visitors per month, but a quick look into Quantcast reveals much better numbers – Courseadvisor.com is a top 1,000 site that reaches over 2.8 million U.S. monthly uniques.
Competitors include GlobalScholar, SmartThinking, Tutor.com, and TutorVista.
GlobalScholar, by the way, has today announced a $27 million B Round from existing investors Ignition Partners and Knowledge Universe Education. This is on top of a previously undisclosed $15.5 million A Round the company raised early last year. Board members include Ignition’s Brad Silverberg and former Drugstore.com CEO Peter Neupert.
In conjunction with the investment round, GlobalScholar is also announcing that it has acquired Excelsior Software for an undisclosed amount (although it was less than half the total money raised). Excelsior makes student assessment software used by teachers in 1,000 school districts nationwide. GlobalScholar said it will be adding the Excelsior’s business to its existing Web-based tutoring platform, which it launched quietly last fall.
About ABS Capital Partners
ABS Capital Partners is a private equity firm that was founded in 1990 to invest in mid- to later-stage growth companies in order to create significant, market-leading companies. The firm’s investment strategy focuses on companies in the business services, health care, technology and media & communications sectors. ABS partners with strong management teams to help build businesses with substantial revenues, near-term profitability and solid customer bases. The firm has created long-term value for management and investors. ABS leverages over 100 years of combined investing and operating experience among its partners and provides a range of investment structures, including expansion financing, management buyouts and recapitalizations. With an extensive history and knowledge of equity and mergers & acquisitions markets, ABS Capital provides strategic guidance and helps companies to capitalize on their business opportunities. ABS has $1.5 billion under management and nine investing partners within offices in Baltimore, San Francisco and Boston. Over the past fifteen years, ABS has invested in over 70 portfolio companies, including American Public Education, Inc., DoubleClick, Inc., NeuStar, Inc., Rosetta Stone, Inc. and Vibrant Media, Inc..
About the Washington Post Company
The Washington Post Company (NYSE:WPO) is a diversified education and media company whose principal operations include educational and career services, newspaper and magazine publishing, television broadcasting, cable television systems and electronic information services. The Company owns The Washington Post; Washingtonpost.Newsweek Interactive (WPNI), the online publishing subsidiary whose flagship products include washingtonpost.com, Newsweek.com, Slate, BudgetTravel.com and Sprig.com; Express; El Tiempo Latino; The Gazette and Southern Maryland newspapers; The Herald (Everett, WA); Newsweek magazine; Post-Newsweek Stations (Detroit, Houston, Miami, Orlando, San Antonio and Jacksonville); Cable ONE, serving subscribers in midwestern, western and southern states; and CourseAdvisor, an online lead generation provider. The Company also owns Kaplan, Inc., a leading international provider of educational and career services for individuals, schools and businesses. The Company has an ownership interests in the Los Angeles Times-Washington Post News Service and Bowater Mersey Paper Company.